Deficiency Charges definition
Examples of Deficiency Charges in a sentence
In addition, the Seller shall pay to Buyer all penalties and/or charges assessed to Buyer (either directly or through contractual obligation) resulting directly from Seller’s failure to deliver all or part of the Product; provided, however, that Seller shall not be liable for any Capacity Deficiency Charges or similar penalties assessed to Buyer resulting from ▇▇▇▇▇’s election to become deficient in the Planning Resource Auction.
In addition, the Seller shall pay to Buyer all penalties and/or charges assessed to Buyer (either directly or through contractual obligation) resulting directly from Seller’s failure to deliver all or part of the Product or due to all or part of the Product being invalid or ineligible; provided, however, that Seller shall not be liable for any Capacity Deficiency Charges or similar penalties assessed to Buyer resulting from ▇▇▇▇▇’s election to become deficient in the Planning Resource Auction.
In addition, the Seller shall pay to Buyer all penalties and/or charges assessed to Buyer (either directly or through contractual obligation) resulting directly from Seller’s failure to deliver all or part of the Product; provided, however, that Seller shall not be liable for any Capacity Deficiency Charges or similar penalties assessed to Buyer resulting from Buyer’s election to become deficient in the Planning Resource Auction.
The above-described remedies are not intended to constrain either party from any other action mutually agreed to by Contractor and the State as being more appropriate or to limit any of the State’s other rights and remedies under this Contract, at law or in equity, including the application of Performance Deficiency Charges (Section 50) or the exercise of Set-Off Rights (Section 51).
Provided, however, WorldCom agrees to waive any Deficiency Charges that arise solely due to a catastrophic network event which materially prevents Customer's use of Services hereunder sufficient to satisfy Customer's Minimum Revenue Commitment.
Further, in the event Customer does not maintain Customer's Total Minimum Revenue Commitment by the end of the Service Term, Customer agrees to pay MCI WorldCom the difference between Customer's Total Minimum Revenue Commitment and Customers actual cumulative Monthly Revenue (which shall include any Monthly Deficiency Charges paid by Customer) during the Total Commitment Period (the "TOTAL DEFICIENCY CHARGE").
The amount of said Performance Deficiency Charges, being difficult if not impossible of definite ascertainment and proof, are acknowledged to be liquidated damages and not a penalty.
Contractor hereby agrees to pay such Performance Deficiency Charges as fixed and agreed liquidated damages, and not by way of penalty, to Authority and further authorizes Authority to deduct and offset the amount of such charges from moneys due Contractor under this Contract, computed as aforesaid.
In addition, the Seller shall pay to Buyer all Financial Settlement Charges (as such term is defined in the MISO Documents) and other penalties and/or charges assessed to Buyer (either directly or through contractual obligation) resulting directly from Seller’s failure to deliver all or part of the Product; provided, however, that Seller shall not be liable for any Capacity Deficiency Charges assessed to Buyer resulting from ▇▇▇▇▇’s election to become deficient in the Planning Resource Auction.
Invoices, ▇▇▇▇▇▇▇▇ and payments hereunder shall be in accordance with the procedures set forth in the applicable Tariff provided that payment for any Deficiency Charges shall be added to the invoice immediately following the end of the second Delivery Period in any Contract Year.